During the week ending February 22, Chinese export offer prices for rebar and wire rod have continued their rising trend. At present, boron-added rebar offers to Southeast Asia given by Chinese suppliers are at $485-495/mt FOB, while boron-added wire rod offers from Chinese suppliers to the same destination are at $490-500/mt FOB.
During the given week, with strong support from domestic finished steel prices, Chinese rebar and wire rod export offer prices have continued to rise. Meanwhile, iron ore prices in China have also increased, exerting a positive impact on rebar and wire rod export offer prices. After the recent significant increases in rebar and wire rod export prices, for the coming week it is thought that export prices may first indicate a correction and then start to move sideways.